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OEA REPORTS RECORD THIRD QUARTER AND NINE-MONTH RESULTS

 OEA REPORTS RECORD THIRD QUARTER AND NINE-MONTH RESULTS
 DENVER, June 10 /PRNewswire/ -- Ahmed D. Kafadar, chairman and chief executive officer of OEA Inc. (NYSE: OEA), the Denver-based, high-technology manufacturer of aerospace and automotive safety products, announced record sales and earnings for the third quarter and nine months ended April 30, 1992.
 Sales and net earnings for the third quarter were $21,515,900 and $3,176,000, respectively, compared to $21,124,200 and $2,909,500 for the prior-year third quarter. Net earnings for the nine months were $9,960,600 on sales of $66,445,600, compared to net earnings of $8,545,600 on sales of $60,077,400 for the prior-year comparable period. Earnings per share for the quarter were 16 cents compared to 14 cents for the fiscal year 1991 third quarter, with nine-month results of 49 cents per share compared to 42 cents for the fiscal year 1991 first nine months. Kafadar noted that the third quarter and nine months' sales increases related to the automotive safety products division. Third quarter sales were approximately 70 percent more than prior-year third quarter sales; nine months sales of automotive safety products increased 60 percent over sales recorded for the nine months ended April 30, 1991. Both the aerospace and automotive safety products segments contributed to the net earnings increases during the third quarter and nine-month periods.
 Activity on OEA's new hybrid inflator, which has been targeted for automobile passenger side airbags in model years 1994 and 1995, continues on schedule. Shipments of inflators to airbag manufacturers will commence by September 1993.
 Bookings of new orders exceeded $22 million during the third quarter. Backlog of unfilled orders at April 30, 1992, was $96 million, up from the $94 million reported a year earlier.
 OEA is a leader in the field of propellant and explosive-actuated devices used in (1) the personnel escape systems of military aircraft, missiles, and for space application and (2) the automotive air bag.
 OEA INC.
 FINANCIAL SUMMARY
 Three Months Ended
 April 30,
 1992 1991
 Net sales $21,515,900 $21,124,200
 Operating profit 5,023,800 4,531,400
 Earnings before income taxes 5,058,100 4,690,700
 Federal and state income tax
 expense 1,882,100 1,781,200
 Net earnings 3,176,000 2,909,500
 Net earnings per share (note) $.16 $.14
 Average number of shares
 outstanding (note) 20,343,738 20,224,896
 Nine Months Ended
 April 30,
 1992 1991
 Net sales $66,445,600 $60,077,400
 Operating profit 15,625,600 13,361,200
 Earnings before income taxes 15,741,200 13,754,100
 Federal and state income tax
 expense 5,780,600 5,208,500
 Net earnings 9,960,600 8,545,600
 Net earnings per share (note) $.49 $.42
 Average number of shares
 outstanding (note) 20,303,730 20,197,272
 Note: The reported earnings per share and average number of shares outstanding reflect the 200 percent stock dividend paid Feb. 14, 1992, to the shareholders of record at the close of business on Jan. 31, 1992.
 -0- 6/10/92
 /CONTACT: A. D. Kafadar, C. B. Kafadar or J. E. Banko all of OEA, 303-693-1248/
 (OEA) CO: OEA Inc. ST: Colorado IN: AUT ARO SU: ERN


BB -- DV003 -- 8750 06/10/92 10:41 EDT
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Publication:PR Newswire
Date:Jun 10, 1992
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